Commercial property demand to ‘gradually strengthen’ in 2023: CBRE

In February, sales rose 23.4% MoM to 1,698 units.

Transaction volumes for commercial properties will likely improve across all sectors in 2023 and beyond, according to CBRE.

In a report, CBRE said demand for commercial properties will gradually strengthen on the back of a brightening economic outlook, improving sales for the year.

In February, sales surged by 23.4% MoM to 1,698 units.

CBRE, however, said the rental and capital value performance of the market will “depend on the supply-demand balance across individual property sectors.” 

“In the short term, a rebound in the retail sector will be more evident as supported by growth in inbound travellers from a low base, followed by the hospitality segment. We expect to see more money chasing these assets going forward,” CBRE said.